Jitters Ahead of Final 2024 Rate Cut Decision
U.S. stocks were mostly lower last week amid stretched valuation concerns following the post-election rally. Investor sentiment grew moderately defensive after digesting mixed readings on inflation and rising bond yields. Producer prices topped forecasts in November while an uptick in consumer prices matched forecasts. Markets are now largely in waiting mode ahead of the Federal Reserve’s Wednesday, December 18th rate and policy decisions, with a 0.25% rate cut widely expected.
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